Schedule of Calculation of Weighted Average Number of Shares Outstanding Used in Computing Basic and Diluted Net Income Loss Per Share |
The following table summarizes the computation of basic and diluted EPS under the two-class or as-converted method, as well as the anti-dilutive shares excluded: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | June 30, | | June 30, | | 2022 | | 2021 | | 2022 | | 2021 | Basic earnings per common share: | | | | | | | | Net income | $ | 843 | | | $ | 3,000 | | | $ | 23,019 | | | $ | 2,536 | | Less: Preferred stock dividend declared | (1,296) | | | (1,313) | | | (3,913) | | | (3,938) | | Net (loss) income available for distribution | (453) | | | 1,687 | | | 19,106 | | | (1,402) | | Income allocated to participating securities | — | | | (659) | | | (7,272) | | | — | | Net (loss) income available to common shareholders | $ | (453) | | | $ | 1,028 | | | $ | 11,834 | | | $ | (1,402) | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | June 30, | | June 30, | | 2022 | | 2021 | | 2022 | | 2021 | | | | | | | | | Weighted average basic shares outstanding | 33,257 | | | 32,821 | | | 33,032 | | | 32,746 | | | | | | | | | | Basic (loss) income per common share | $ | (0.01) | | | $ | 0.03 | | | $ | 0.36 | | | $ | (0.04) | | | | | | | | | | Diluted earnings per common share: | | | | | | | | Method used: | Two-class | | Two-class | | Two-class | | Two-class | Net (loss) income available to common shareholders | $ | (453) | | | $ | 1,028 | | | $ | 11,834 | | | $ | (1,402) | | | | | | | | | | Weighted average basic shares outstanding | 33,257 | | | 32,821 | | | 33,032 | | | 32,746 | | Dilutive effect related to employee stock plans | — | | | 215 | | | 518 | | | — | | Weighted average diluted shares outstanding | 33,257 | | | 33,036 | | | 33,550 | | | 32,746 | | | | | | | | | | Diluted (loss) income per common share | $ | (0.01) | | | $ | 0.03 | | | $ | 0.35 | | | $ | (0.04) | | | | | | | | | | Anti-dilutive shares excluded: | | | | | | | | Outstanding stock-based grants | 624 | | | 190 | | | 6 | | | 646 | | Convertible preferred stock | 20,297 | | | 21,021 | | | 20,297 | | | 21,021 | | Total anti-dilutive shares excluded | 20,921 | | | 21,211 | | | 20,303 | | | 21,667 | | | | | | | | | | Dilutive shares under the as-converted method(1) | 54,174 | | | 54,057 | | | 53,847 | | | 53,950 | |
(1) The dilutive shares under the as-converted method assume conversion of the Series A Preferred Stock and are presented here merely for reference. In a net income position, diluted earnings per share is determined by the more dilutive of the two-class method or the as-converted method.
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Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The following table summarizes the computation of basic and diluted EPS under the two-class or as-converted method, as well as the anti-dilutive shares excluded: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | June 30, | | June 30, | | 2022 | | 2021 | | 2022 | | 2021 | Basic earnings per common share: | | | | | | | | Net income | $ | 843 | | | $ | 3,000 | | | $ | 23,019 | | | $ | 2,536 | | Less: Preferred stock dividend declared | (1,296) | | | (1,313) | | | (3,913) | | | (3,938) | | Net (loss) income available for distribution | (453) | | | 1,687 | | | 19,106 | | | (1,402) | | Income allocated to participating securities | — | | | (659) | | | (7,272) | | | — | | Net (loss) income available to common shareholders | $ | (453) | | | $ | 1,028 | | | $ | 11,834 | | | $ | (1,402) | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | June 30, | | June 30, | | 2022 | | 2021 | | 2022 | | 2021 | | | | | | | | | Weighted average basic shares outstanding | 33,257 | | | 32,821 | | | 33,032 | | | 32,746 | | | | | | | | | | Basic (loss) income per common share | $ | (0.01) | | | $ | 0.03 | | | $ | 0.36 | | | $ | (0.04) | | | | | | | | | | Diluted earnings per common share: | | | | | | | | Method used: | Two-class | | Two-class | | Two-class | | Two-class | Net (loss) income available to common shareholders | $ | (453) | | | $ | 1,028 | | | $ | 11,834 | | | $ | (1,402) | | | | | | | | | | Weighted average basic shares outstanding | 33,257 | | | 32,821 | | | 33,032 | | | 32,746 | | Dilutive effect related to employee stock plans | — | | | 215 | | | 518 | | | — | | Weighted average diluted shares outstanding | 33,257 | | | 33,036 | | | 33,550 | | | 32,746 | | | | | | | | | | Diluted (loss) income per common share | $ | (0.01) | | | $ | 0.03 | | | $ | 0.35 | | | $ | (0.04) | | | | | | | | | | Anti-dilutive shares excluded: | | | | | | | | Outstanding stock-based grants | 624 | | | 190 | | | 6 | | | 646 | | Convertible preferred stock | 20,297 | | | 21,021 | | | 20,297 | | | 21,021 | | Total anti-dilutive shares excluded | 20,921 | | | 21,211 | | | 20,303 | | | 21,667 | | | | | | | | | | Dilutive shares under the as-converted method(1) | 54,174 | | | 54,057 | | | 53,847 | | | 53,950 | |
(1) The dilutive shares under the as-converted method assume conversion of the Series A Preferred Stock and are presented here merely for reference. In a net income position, diluted earnings per share is determined by the more dilutive of the two-class method or the as-converted method.
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